Engineers Gate Manager LP Invests $3.42 Million in Pure Storage Inc (PSTG)

Engineers Gate Manager LP bought a new position in shares of Pure Storage Inc (NYSE:PSTG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 213,745 shares of the technology company’s stock, valued at approximately $3,418,000. Engineers Gate Manager LP owned approximately 0.10% of Pure Storage as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP boosted its stake in shares of Pure Storage by 14.0% during the 2nd quarter. First Trust Advisors LP now owns 15,607 shares of the technology company’s stock worth $200,000 after acquiring an additional 1,919 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Pure Storage by 38.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock worth $105,000 after acquiring an additional 2,284 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Pure Storage by 4.5% during the 2nd quarter. New York State Common Retirement Fund now owns 99,500 shares of the technology company’s stock worth $1,275,000 after acquiring an additional 4,278 shares in the last quarter. American International Group Inc. boosted its stake in shares of Pure Storage by 8.1% during the 3rd quarter. American International Group Inc. now owns 62,411 shares of the technology company’s stock worth $998,000 after acquiring an additional 4,666 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Pure Storage by 8.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 75,274 shares of the technology company’s stock worth $964,000 after acquiring an additional 6,169 shares in the last quarter. 38.46% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the stock. Jefferies Group reissued a “hold” rating and set a $13.50 target price on shares of Pure Storage in a research note on Friday, August 25th. William Blair reaffirmed an “ourperform” rating on shares of Pure Storage in a research note on Friday, August 25th. Lake Street Capital set a $21.00 price target on shares of Pure Storage and gave the company a “buy” rating in a research note on Wednesday, November 29th. They noted that the move was a valuation call. KeyCorp reaffirmed a “buy” rating and issued a $24.00 price target on shares of Pure Storage in a research note on Wednesday, November 29th. Finally, Robert W. Baird set a $14.00 price target on shares of Pure Storage and gave the company a “hold” rating in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $18.55.

Pure Storage Inc (NYSE:PSTG) traded up $0.50 during mid-day trading on Wednesday, reaching $17.04. 2,593,700 shares of the company’s stock were exchanged, compared to its average volume of 1,772,799. Pure Storage Inc has a 12 month low of $9.12 and a 12 month high of $19.27.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Tuesday, November 28th. The technology company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. The company had revenue of $277.70 million during the quarter, compared to the consensus estimate of $272.07 million. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.86%. Pure Storage’s quarterly revenue was up 41.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) EPS. equities research analysts expect that Pure Storage Inc will post -0.93 earnings per share for the current year.

In other Pure Storage news, CFO Timothy Riitters sold 25,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $15.85, for a total value of $396,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President David Hatfield sold 130,000 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $18.05, for a total transaction of $2,346,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 317,028 shares of company stock valued at $5,304,635. 41.47% of the stock is owned by insiders.

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About Pure Storage

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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